UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in UMB Financial Co. (NASDAQ:UMBF) by 3.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,883,750 shares of the bank’s stock after selling 71,012 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UMB Financial were worth $198,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Truist Financial Corp lifted its stake in shares of UMB Financial by 3.3% during the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after purchasing an additional 136 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of UMB Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock worth $4,771,000 after purchasing an additional 144 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after purchasing an additional 200 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock worth $4,913,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on UMBF. Citigroup began coverage on UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective on the stock. Piper Sandler boosted their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, UMB Financial currently has an average rating of “Moderate Buy” and an average target price of $105.86.

Insider Activity at UMB Financial

In other news, Director Tamara Peterman acquired 396 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now directly owns 7,407 shares in the company, valued at $737,440.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO J Mariner Kemper sold 10,115 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the transaction, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tamara Peterman bought 396 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now directly owns 7,407 shares of the company’s stock, valued at approximately $737,440.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 42,596 shares of company stock valued at $4,224,884 over the last three months. 8.85% of the stock is owned by insiders.

UMB Financial Stock Down 2.1 %

Shares of NASDAQ UMBF traded down $2.32 during midday trading on Friday, reaching $109.35. 368,327 shares of the company’s stock were exchanged, compared to its average volume of 356,938. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $5.33 billion, a PE ratio of 14.52 and a beta of 0.78. UMB Financial Co. has a 52-week low of $58.92 and a 52-week high of $113.30. The business’s fifty day moving average price is $103.13 and its two-hundred day moving average price is $91.44.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. The firm had revenue of $390.03 million during the quarter, compared to analyst estimates of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. UMB Financial’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.93 earnings per share. Analysts forecast that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, September 10th. UMB Financial’s dividend payout ratio is currently 20.72%.

UMB Financial Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.